Mitek Systems, Inc. (NASDAQ:MITK) Insider Jason Gray Sells 6,222 Shares of Stock

Mitek Systems, Inc. (NASDAQ:MITK) insider Jason Gray sold 6,222 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $9.07, for a total value of $56,433.54. Following the completion of the sale, the insider now directly owns 164,342 shares in the company, valued at approximately $1,490,581.94. The trade was a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Mitek Systems Stock Down 2.2 %

Shares of NASDAQ:MITK opened at $8.90 on Friday. The company has a quick ratio of 4.46, a current ratio of 4.46 and a debt-to-equity ratio of 0.68. The business’s 50 day moving average price is $9.02 and its 200-day moving average price is $10.00. Mitek Systems, Inc. has a 1 year low of $7.35 and a 1 year high of $16.24.

Analyst Ratings Changes

Several analysts have commented on MITK shares. StockNews.com raised Mitek Systems from a “hold” rating to a “buy” rating in a report on Friday, December 6th. Jefferies Financial Group lowered Mitek Systems from a “buy” rating to a “hold” rating and lowered their price target for the stock from $17.00 to $9.50 in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.13.

Institutional Trading of Mitek Systems

A number of institutional investors have recently made changes to their positions in the company. Innealta Capital LLC acquired a new position in Mitek Systems during the second quarter worth $32,000. nVerses Capital LLC boosted its stake in Mitek Systems by 25.5% during the third quarter. nVerses Capital LLC now owns 6,400 shares of the software maker’s stock worth $55,000 after buying an additional 1,300 shares during the last quarter. Avior Wealth Management LLC acquired a new position in Mitek Systems during the third quarter worth $60,000. Intech Investment Management LLC acquired a new position in Mitek Systems during the third quarter worth $117,000. Finally, Squarepoint Ops LLC acquired a new position in Mitek Systems during the second quarter worth $138,000. 83.64% of the stock is owned by institutional investors and hedge funds.

About Mitek Systems

Mitek Systems, Inc provides mobile image capture and digital identity verification solutions worldwide. Its product portfolio includes Mobile Deposit that enables individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that is integrated into mobile apps, mobile websites, and desktop applications; and Mobile Fill, which includes automatic image capture, minimizes the numbers of clicks, and expedites form fill completion.